Comparing Regulatory Accounting in Terms of Accounting Policies in the Russian Federation and the People’s Republic of China

Abstract

The research aims to conduct a comparative analysis of regulatory acts regulating the formation and the design of accounting policies in the Russian Federation and the People’s Republic of China using certain objects of comparison. During the research, the authors applied several research methods, including analysis, synthesis, deduction, induction, comparative legal method, tabular method, and graphical method. The originality and scientific novelty of this research lie in identifying the comparison objects of accounting standards in terms of accounting policies and revealing similarities and discrepancies between them. As a result, the authors identified and described the comparison objects of accounting standards and revealed discrepancies in the standards. No discrepancies are found for most comparison objects. The absence of discrepancies in the identified objects of comparison indicates the comparability of the financial statements and the absence of reasons for the discrepancy of the reporting data due to possible discrepancies in the accounting policy procedure.